Business Plan Mentoring Process

Ethan, Lily, and Maya are brainstorming for a new business venture. What criteria should they consider while exploring their options?

• Their budget should not exceed $50,000

• They can consider buying a franchise

• They can start an online-only based business

• They don't need any prior experience or knowledge

Ethan, Mia, and Charlotte are planning to start a business. They are working on their business plan. According to you, what is the main purpose of the business model in their plan?

• To determine the location of their business

• To identify the team members and their roles

• To describe the product they are providing

• To set the spending limit for their business

Where should the proposed business be located?

• Outside the Rio Grande Valley

• In any region except the Rio Grande Valley

• In the Rio Grande Valley

• Online only

Luna, Michael, and Anika are in a team for a project. How many times can their team meet with the mentor?

• Up to 2 times

• Up to 3 times

• Up to 4 times

• Up to 5 times

Henry, Olivia, and Aiden are part of a study group. How many of them need to attend the meeting to receive extra credit and make the study session more lively?

• All team members

• At least one member

• At least two members

• At least three members

Sophia, Benjamin, and Aiden are in a team for a project. They are wondering how many times they can consult with their mentor. Can you help them figure it out?

• Up to 2 times

• Up to 3 times

• Up to 4 times

• Up to 5 times

Mason, Abigail, and Olivia are planning to start a new business venture. They are brainstorming about the maximum budget they should set for their venture. What do you think should be their maximum budget?

• $25,000

• $50,000

• $75,000

• $100,000

Aria, Grace, and Mason are starting a new business. They are having a debate. What do you think is the main goal of their business plan?

• To secure investment

• To guide the business's strategy

• To hire new employees

• To design the company logo

Imagine you're in a business planning meeting with Abigail, Mason, and James. You're discussing the importance of location in a business plan. What do you think it is?

• It determines the tax rate

• It identifies the target market

• It has no importance

• It sets the company culture

What business format is not allowed for this project?

• Franchise

• Sole proprietorship

• Corporation

• Partnership